bankruptcy attorney Los Angeles

The Affect Of Chapter 13 Bankruptcy On Your Car

Call: 888-297-6203 1) If Chapter 13 Bankruptcy is filed, can I keep my car, or do I have to give it off? When filing for Chapter 13 Bankruptcy, you can keep all of your assets, including the nonexempt ones. A repayment plan is a set-up, and money is paid to the Chapter 13 trustee. Also, none of your property is sold off to pay back the creditors. Through the repayment plan, even if you have nonexempt equity on your car, you will have to pay your creditors (especially unsecured ones) an amount equal to your non-exempt equity. 2) [...]

2023-04-19T11:38:24+00:00
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Your Options When You Cannot Afford Your Car?

Call: 888-297-6203 The past couple of years have been difficult for almost everyone. For example, suppose you had bought a vehicle and unfortunately lost the job. In that case, there can be considerable doubt regarding your options. Therefore, if you wish to keep your car and you cannot keep up with your payments, you need to contact the lender immediately to find out if any payment forbearance program is available which allows you to forego some payments. Apart from this, you should also find out from your former employee whether any insurance on your behalf (paid by the [...]

2023-04-19T11:36:03+00:00
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At A Stage To File Bankruptcy? Well, Before You Do So, Know These 8 Things

Call: 888-297-6203 1) Bankruptcy can be filed in 2 options Which one you choose, depends on a few things. A- For Chapter 7, you get to keep your house and car, if you can clear their dues, you get to walk away from most of the debt. B - For Chapter 13, depends on your income. If you have earned too much or filed for Chapter 7 in the last 8 years, this is what you need to do. Here, all your debts get paid off, but you don't have to pay the entire thing. Some creditors may [...]

2023-04-19T11:31:29+00:00
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COVID-19 AND BANKRUPTCY – The Co-Relation Between The Two

Call: 888-297-6203 During Covid there are job cuts and the whole world is facing sudden unemployment, amidst this period if your creditor harasses you or creates pressure on you to pay up, you will have to know your rights. Serious effects on our life because of the pandemic- Pandemic has had serious effects on a lot of people, especially those who are losing their job or their business is closed because there are no funding or people to buy their products. These people who have debts too are contently pressurized to pay the creditors or they try to [...]

2023-04-19T11:15:18+00:00
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Is Bankruptcy An Option? Let Us Explore The Warning Signs To Know The Same

Call: 888-297-6203 Financial difficulty, mostly due to unemployment, health failures, or personal lacking leads to bankruptcy. Self-dependent people too fall into this well-laid Federal Law trap of having taken too much debt to repay. Recovery Law Group from Los Angeles & Dallas, TX is there for assistance. You can contact us at (888-297-6203) for details. How do you know if it is time to file for Bankruptcy? Let's see the common signs. 1) Never ending debt Be it paying monthly for your credit card, or having nothing to pay at all, bankruptcy is the solution for you. Either [...]

2023-04-19T11:28:48+00:00
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The Fate Of Liens In Chapter 7 Bankruptcy

Call: 888-297-6203 When individuals buy a property such as a house or a car, they usually take out a loan. The lender requires the borrower to agree that non-payment of the debt allows the creditor to take the purchased property and sell it to recover the outstanding loan balance. This ownership interest in a property is called a lien. Usually, the outstanding price of the property is less than what is owed. As a result, the borrower remains responsible for the outstanding balance, also known as a deficiency. This deficiency balance can be wiped out in a Chapter [...]

2023-04-19T10:28:20+00:00
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All You Must Understand About Priority Debts Under Chapter 7

Call: 888-297-6203 Priority debts are always given first preference when repaying the debts. These include Employee Wages, domestic support obligations, child support etc. these must be paid off before the non-priority debts like medical bills and credit card balances.  Disbursement of the funds by the trustee The onus lies with the trustee to use your assets to pay off our debts. But most debtors who file for bankruptcy under chapter 7 have no assets which the trustee can sell off to pay the creditor. So, with whatever money that is available, the trustee will review the funds and [...]

2023-04-19T10:20:09+00:00
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How Chapter 7 Can Help Small Business Owners

Call: 888-297-6203 A small business owner or a sole proprietor struggling with finances can get rid of their debts by filing for Chapter 7 bankruptcy. This chapter can help you close the business easily. However, it is not suitable for partnerships, LLC, or corporations as the business will not receive a debt discharge. Moreover, filing for bankruptcy can increase liabilities like lawsuits. You can understand more about bankruptcy by calling 888-297-6203 to consult with experienced bankruptcy lawyers in Los Angeles. Business debts and personal liabilities A personal guarantee makes you liable for any business debt if the business [...]

2023-04-19T10:10:43+00:00
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Steps On Choosing A Good Bankruptcy Attorney

Call: 888-297-6203 Filing for bankruptcy is not an easy decision for people to make. A good and experienced attorney can help to relieve you of the stress, as well as also guide you to make the correct decisions to resolve your debt the correct way. While hiring a bankruptcy lawyer, it is important that you consider the following points – Credentials and Associations – Bankruptcy is a very complex matter and a single wrong step might put you in a fix or even make you lose the case. Therefore it is important that when you hire an attorney, [...]

2023-04-19T10:07:59+00:00
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Is Bankruptcy Filing Possible If I Have Equity In My Home?

Call: 888-297-6203 Bankruptcy filing is possible even if you have equity in your house. However, if you cannot protect it through exemption, you might end up losing it. There are various factors that determine what will happen to the equity. These include the bankruptcy chapter, the duration of ownership, and the state of federal exemption you are using. Both Chapter 7 and chapter 13 allow you to exempt certain equity in your home. However, the non-exempt equity is treated differently in both these chapters. In Chapter 7 bankruptcy, any non-exempt property is handed over to the bankruptcy trustee [...]

2023-04-14T09:01:48+00:00
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We help people file bankruptcy petitions to obtain relief under the bankruptcy code.